Principal Street Partners LLC Has $216,000 Position in Republic Services, Inc. (NYSE:RSG)

Principal Street Partners LLC trimmed its stake in shares of Republic Services, Inc. (NYSE:RSG) by 66.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088 shares of the business services provider’s stock after selling 2,127 shares during the quarter. Principal Street Partners LLC’s holdings in Republic Services were worth $216,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC lifted its stake in shares of Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares during the last quarter. EntryPoint Capital LLC bought a new position in Republic Services in the first quarter valued at about $29,000. Webster Bank N. A. acquired a new stake in shares of Republic Services during the third quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in shares of Republic Services during the third quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Buying and Selling

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at approximately $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Republic Services Stock Performance

Shares of Republic Services stock opened at $218.80 on Wednesday. The company has a market cap of $68.52 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services, Inc. has a 52 week low of $159.10 and a 52 week high of $219.94. The business has a 50 day moving average price of $205.15 and a 200-day moving average price of $199.43.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 earnings per share. Equities analysts anticipate that Republic Services, Inc. will post 6.24 earnings per share for the current fiscal year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, January 2nd. Republic Services’s payout ratio is 37.12%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RSG. Royal Bank of Canada boosted their target price on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank started coverage on Republic Services in a research report on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. StockNews.com downgraded shares of Republic Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial boosted their price target on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and an average price target of $215.71.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.